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Comp Photos From MLS?

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KYLECODY

Senior Member
Joined
Apr 26, 2003
Professional Status
Certified Residential Appraiser
State
Arizona
Is this permissable assuming you have driven the comp looking for obsolescense and/or views?? An example would be mountain acreage where from the street you are basicly taking pics of mostly trees and some house...Id rather not drive up someones 1/4 mile driveway and risk getting shot at. Is it specificaly addressed somewhere if you can cut and paste pics from the MLS?? Or is it sort of a grey area?? Thanks.
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
Kyle: your client may have an opinion...

I always take a photo of the street for my file to PROVE that I did in fact 'drive the comps' - regardless of what some of my competition does <_< : the fannie addendum states that you did view the comps from the exterior :angry:

If using MLS pics I ALWAYS indicate why... I have used MLS if light conditions were poor, (pouring rain) or there were a dozen kids in the driveway, etc... but I always indicate in one line or so why the pics have the realtors sign and a different season's grass/leaves in it!

I'll use the better picure every time it makes a great deal ofsense to do so...
 

Chris Harrison

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Utah
I agree with Lee Ann.

I've been know to use a spring photo from the MLS on the "mountain cabin" covered in 10 feet of snow :D

Always indicate the reason and reference the photo on date of inspection is available in the appraisers file.

Chris
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
MLS photos are acceptable but you are still responsible to have viewed the comparable.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
I will not trespass to get a comp photo. A home back off the road or set up in the trees, I use a MLS photo. I recently used a MLS photo on a field review as there had been significant site work done (large brick fence, electric gate, etc) so the MLS photo was more representative of the subject at the time of sale. Have done this for the same reason in sales reports.

The idea is to appropriately represent the comparable sales for the UW.

Roger
 

Frederick R. Ruffell

Senior Member
Joined
Jan 21, 2002
Professional Status
Certified General Appraiser
State
California
I have always felt that the MLS photos are a more accurate depiction of the property as of the time it sold. You still need to inspect them. This raises another question. If I have already inspected the comparable in question previously would I need to reinspect for each assignment I wish to use it in?
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Originally posted by Lee Ann@Apr 28 2003, 05:29 PM

I always take a photo of the street for my file to PROVE that I did in fact 'drive the comps' -
Lee Ann,

Have you given your lenders a reason not to trust you? :)
 

Richard Carlsen

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
I agree with Fred. The comp photo from the MLS is the best representation that the buyer has made his buying decision on. I’ve seen comps that have been resided and updated in the first month and they don’t look anything like the house that sold. One house was blown down by a high wind within 2 months of a sale. My comp photo was of the remaining foundation. In addition, we have many seasonal properties that would require a snow plow to get to in the winter and lots of drives that are chained off. That means "DO NOT ENTER". Just because I'm an appraiser does not mean that I have the right to trespass.

I use MLS photos exclusively for the above reasons except for private sales that I know of or do or the sales of independent non-MLS brokers. Or in some cases the big hitter brokers take a lousy picture. Then I take theirs out of the downloaded MLS program in my computer and put my own fine example of digital photography in its place.

Here's what the FNMA Selling Guidelines says about photos in a report:

Clear, descriptive photographs (either in black and white or color) that show the front of each comparable sale and that are appropriately identified. (We do not require photographs of comparable rentals and listings.) Generally, photographs should be originals that are produced by photography or electronic imaging; however, copies of photographs from a multiple listing service or from the appraiser's files are acceptable if they are clear and descriptive;.
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
This raises another question. If I have already inspected the comparable in question previously would I need to reinspect for each assignment I wish to use it in?

Your previous photo and drive by look/see is probably better than a later one since it's closer to the time it was sold. No problem! You've been there!
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
previously would I need to reinspect for each assignment I wish to use it in?

Nightmare to do otherwise....I take pix of comps and any isolated property that I appraise, I also take pix to keep in a junk file. In the event in the next year or two that property sells, I use the old picture. I recently did a retrospective report for a property that was a 1997 date, and found contemporary pix from an old zip drive for all the comps.

Farms in my files may apply to 10 or 20 appraisals. I reuse, reuse, reuse.

ter
 
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